Business

Outsourcing: The good, the bad, and the ugly

The competition experienced in the global market has tuned up brands to do everything possible to come up with products and services of sterling qualities. To this end, a lot of brands resort to outsourcing in order to fill up gaps that will enhance their competitive advantage. Outsourcing is all about brands hiring sources from outside the company to perform services or create products which ordinarily should have been done in-house by employees and staff of the company. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. In the business world, outsourcing is subject to considerable controversy. A group, especially in the manufacturing sector argues that it has caused the loss of domestic jobs. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free market economies on a global scale. The good There are a whole lot of reasons why you may decide to embark on outsourcing some certain tasks in your company. It can help you to reduce labor costs significantly by avoiding expenses associated with overhead. You also have…

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Business

4 Ways Perfectionism Can Crumble Your Business

Yeah! Nobody should begrudge you that as a founder. What you want for your business is the best. You want your brand to be a household name and for that, you are willing and ready to give in all.  You deem everything should work tick tock to attain the status of perfectionism. But wait a minute. Is that really right?